General Motors (NYSE:GM) Shares Sold by Nomura Asset Management Co. Ltd.

Nomura Asset Management Co. Ltd. reduced its position in General Motors (NYSE:GM) (TSE:GMM.U) by 1.7% in the 4th quarter, Holdings Channel.com reports. The fund owned 429,950 shares of the auto manufacturer’s stock after selling 7,402 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in General Motors were worth $22,903,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently bought and sold shares of GM. Blue Trust Inc. raised its holdings in General Motors by 19.7% in the fourth quarter. Blue Trust Inc. now owns 9,164 shares of the auto manufacturer’s stock valued at $488,000 after buying an additional 1,510 shares during the period. SYM FINANCIAL Corp bought a new position in General Motors during the fourth quarter valued at about $474,000. Asset Management One Co. Ltd. grew its position in General Motors by 9.3% in the fourth quarter. Asset Management One Co. Ltd. now owns 463,848 shares of the auto manufacturer’s stock worth $25,178,000 after buying an additional 39,474 shares during the last quarter. Avantra Family Wealth Inc. acquired a new stake in shares of General Motors during the fourth quarter valued at approximately $1,044,000. Finally, Handelsbanken Fonder AB lifted its stake in General Motors by 10.9% in the 4th quarter. Handelsbanken Fonder AB now owns 202,054 shares of the auto manufacturer’s stock worth $10,763,000 after acquiring an additional 19,924 shares in the last quarter. 92.67% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently commented on GM. Hsbc Global Res lowered shares of General Motors from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 11th. UBS Group reiterated a “buy” rating on shares of General Motors in a research report on Monday, February 3rd. JPMorgan Chase & Co. dropped their price objective on General Motors from $64.00 to $53.00 and set an “overweight” rating on the stock in a research note on Thursday. TD Cowen initiated coverage on shares of General Motors in a report on Friday, March 7th. They set a “buy” rating and a $105.00 target price for the company. Finally, HSBC downgraded shares of General Motors from a “buy” rating to a “hold” rating and set a $58.00 target price for the company. in a research note on Wednesday, December 11th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, General Motors currently has a consensus rating of “Hold” and a consensus target price of $62.11.

Insider Buying and Selling

In other news, Director Alfred F. Kelly, Jr. bought 12,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 30th. The stock was purchased at an average cost of $50.66 per share, for a total transaction of $607,920.00. Following the purchase, the director now directly owns 13,714 shares in the company, valued at approximately $694,751.24. This trade represents a 700.12 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.72% of the company’s stock.

General Motors Stock Down 1.2 %

Shares of NYSE GM opened at $46.65 on Friday. The company has a current ratio of 1.13, a quick ratio of 0.98 and a debt-to-equity ratio of 1.38. General Motors has a 12-month low of $38.96 and a 12-month high of $61.24. The stock has a market capitalization of $46.42 billion, a price-to-earnings ratio of 7.59, a P/E/G ratio of 0.67 and a beta of 1.42. The firm’s 50-day moving average price is $48.89 and its 200-day moving average price is $50.56.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its earnings results on Tuesday, January 28th. The auto manufacturer reported $1.92 earnings per share for the quarter, beating analysts’ consensus estimates of $1.75 by $0.17. General Motors had a return on equity of 15.29% and a net margin of 3.21%. On average, equities research analysts anticipate that General Motors will post 11.44 EPS for the current fiscal year.

General Motors Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Friday, March 7th were issued a $0.12 dividend. The ex-dividend date was Friday, March 7th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.03%. General Motors’s dividend payout ratio is currently 7.80%.

General Motors declared that its board has authorized a share repurchase program on Wednesday, February 26th that allows the company to buyback $6.00 billion in outstanding shares. This buyback authorization allows the auto manufacturer to repurchase up to 12.5% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.

About General Motors

General Motors Company designs, builds, and sells trucks, crossovers, cars, and automobile parts; and provide software-enabled services and subscriptions worldwide. The company operates through GM North America, GM International, Cruise, and GM Financial segments. It markets its vehicles primarily under the Buick, Cadillac, Chevrolet, GMC, Baojun, and Wuling brand names.